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SSC CHSL 15 Oct 2020 Shift 1 Paper
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© examsnet.com
Question : 61
Total: 100
The compound interest on
₹
4000
after
3
yr
is ₹
630.50
. Then, the rate of interest compounded yearly is
7
%
5
%
8
%
6
%
Validate
Solution:
Given that, principal
(
P
)
=
₹
4000
time
(
n
)
=
3
yr
and
Cl
=
₹
630.50
According to the formula,
Compound interest
=
P
[
(
1
+
R
100
)
n
−
1
]
⇒
630.50
=
4000
[
(
1
+
R
100
)
3
−
1
]
⇒
1
+
6305
40000
=
(
1
+
R
100
)
3
⇒
(
1
+
R
100
)
3
=
46305
40000
⇒
(
1
+
R
100
)
3
=
9261
8000
⇒
(
1
+
R
100
)
=
(
9261
8000
)
1
3
=
21
20
⇒
R
100
=
21
20
−
1
=
21
−
20
20
=
1
20
∴
R
=
100
20
=
5
%
© examsnet.com
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